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Dear Ian,
I am pleased to provide an update on CIC Capital Ltd revenue and cash flow.
I have received a number of shareholder phone calls and the recently released third quarter financial results 30 Sep 2019 reflect our client activity.
The revenue both cash and shares summary is actually on the company’s web site:
Investors Tab “ Revenue Summary to 31 March 2020”
The link is as follows:
https://docs.wixstatic.com/ugd/a6bced_3b3ac87b6ec644238a2c56bbb4625bcd.pdf
Cash
All cash is deposited in the CIC Capital Fund Trust Account and is why the Q3 Financial statements are not clear on the cash position. The Revenue Summary shows cash received and cash invoiced. We are doing exceptionally well.
Client Shares
Our Investment Policy is clear, we do not account for any shares that is not trading on a stock exchange. Therefore we have only accounted for one client whom shares we can trade now for cash. All the other client shares are not account for in the financial statements (FS). The investment policy can be viewed on the web site www.CICCapital.com “Investors Tab”.
Shareholder Dividend
CIC Capital Ltd was very successful in listing CIC Gold Group Ltd in June 2015. The whole shareholder base was created as a dividend in specie to all shareholders (I refused the dividend in favour on minority shareholders). The majority shareholders received pro rata free shares (about 14% of their shareholding). CIC Gold traded at average 5.3 pence for three months with the hight share distribution to shares outstanding on the main market of the London Stock Exchange at 28 M share per month (1/3 of the total share outstanding). CIC Gold was just a shell and the market Cap was nearly GBP5.2 million pounds. This also set a record as to the highest value of a shell traded on a EU regulated market. Why is this important? Well the value was really nothing to do with CIC but to do with the recognition of the value of share distribution, basically you and our market maker.
This model of taking a little cash (so we are not left with our pants down if the client decides to change their mind) and shares.
Should CIC be successful in listing those clients then the share windfall and possible dividend like CIC Gold will be extremely positive. This is why I am always reachable, my mobile is on the website because you the owners of the company (shareholders) is really important to our client's shareholder list. By issuing client shares as a dividend we are creating their share list t so they can meet their listing obligation.
Other client may already be listed and again we may in part or full give them as a dividend to our shareholders.
Our current shares outstanding will never increase because we can generate all the cash we need, our prospectus is not raising any capital.